Egypt to launch new phase of digital tax collection system by 1 July: Finance ministry

May 16, 2022by TPA Global0

Egypt will begin a new phase of its automated and electronic tax collecting system on July 1, which will help to integrate informal economic activity into the official sector, according to Minister of Finance Mohamed Maait. 

In 2021, the government established a unified platform for electronic and automated tax collection, which is aimed to collect and document the taxes of all commercial entities, as part of the state’s ‘Digital Egypt’ digital transformation agenda. Income taxes, freelancing taxes, deductions and collection returns, value added taxes, and stamp taxes are all covered under the system, with all transactions set to be paid electronically using non-cash payment methods. 

Egypt was one of 130 nations to sign the OECD/G20 agreement, which includes 15 measures to combat tax evasion and strengthen the consistency of international tax standards. 

Effective date: 1 July 2022 

Source

TPA Global

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